poru . kuruguman ha poruson . puran ni hantai shiteshimaimashita .

NYT op-ed de , poru . kuruguman ha poruson . puran ni hantai shiteshimaimashita . poruson . puran ha , ginkou no fudousan kankei no shouken ( tsumari , ginkou no BS deha A (Assets) no bubun ) wo zaimu shou ga kaitotte agerutoiu puran desu . genkinka dekiru shisan wo fuyashi teageyoutoiunoga poruson . puran desu . sono saini , shihon ( tsumari ginkou no BS deha K (Capital) no bubun ) no mondai ha mina ikotonishiyoutoiunodesu . tsumari , poruson . puran ha BS no hidarigawa dakewo miru puran desu .
kuruguman ha , soreha dame dato ii masu . kashi shiburi ga oki teiru riyuu ha , K notokoro , tsumari kashou shihon niarunodato kangae teimasu . dakara , shihon wo chuunyuu shite , seifu ha stake wotoranakerebanaranaito itsutte imasu . tsumarino BS no migigawa kara miro to itsutte imasu .
tsumari , iwayuru , liquidity to solvency no mondai desu ( See Mark Thoma) . liquidity dakega mondai dearunonara , tashikani jisshitsu kachi de ryuudousei noaru shisan to koukan shiteagereba sumi masu . shikashi , solvency no mondai deareba , shihaiken notsuita shihon chuunyuu ga hitsuyou ninarunodesu . ronriteki niha , kanzen jouhou deha , illiquidity ha insolvency niyori oko rimasu . Solvent na institution ha liquid nahazudesu . shikashi , fukanzenjouhou deha , solvent na institution demo illiquid ninariemasu . poruson . puran no zentei ha ( fukanzenjouhou de solvent na institution ga illiquid ninatteiru ) toiukotodesu . kuruguman ha ( ima hatashikani fukanzenjouhou daga , soudeare genjou ha insolvent ni chikai institution ga illiquid ninatteirunoda ) to itsutte irunodesu .
Flow of Funds wo tsukatte , fuyou na fuutou no urade kashou shihon ninatteiruka keisan woshitemimashou . 2007 nen 6 getsumatsu ( subprime loan crisis no mae ) ni fudousan ron ha 13 chou 5 sen oku doru arimashita . shougyou ginkou hasono 4 fun no 1 gurai shoyuu shiteiruyoudesu . 3 chou 4 sen oku doru desu . 15 % kachi ga ochi tatosuruto 5 sen hyakuoku doru no sonshitsu desu . shougyou ginkou no sou kinyuushisan ha 10 chou 2 sen oku doru desu . motomoto 10 % no shihon wo youishi teitatosuruto , 1 chou sen oku doru desu . tashikani , hanbun guraino shihon ga kie teirukotoninarimasu . kashou shihon no mondai ( tosoreni tomonau kashi shiburi ) ha hassei shiteirudarouto ie mashou . soshite , furyousaiken mondai ha , fudousan saiken igai nimo oki teiruhazudesu . koreha tsuikateki ni shihon wo hera shiteikimasu .
ketsuron toshiteha , poruson . puran ha shihon chuunyuu denaitoiu imi de , kanari konponteki na kaiketsu ninarimasen . tada , kono seiken koutai no time limit de nani gadekirukatoiunoha bimyouna tokorodesu . RTC type no soshiki wo tsukuru noniha jikan gakakarimasu . sokkousei noaru keikaku wo tate runoha hijouni taihen desune .

chinamini , kono mae no posuto no T shatsu shashin wo kurikku suruto kakudai sarete , BS no zu ga dete mairimasu . hai , senden deshita , owari .